Wallace LLP advises on $411.5 million acquisition of TIGI hair product and academies by multinational Unilever
The corporate practice of London law firm Wallace advised Anthony Mascolo, the International Creative Director of TIGI International and of Toni & Guy hair salons in the Americas, on the sale of the global TIGI professional hair products business and its supporting advanced education academies for $411.5 million, with an additional consideration payable subject to the future performance of the business.
Wallace worked opposite Unilever’s in-house legal team on the
Anthony Mascolo - along with his brothers Bruno and Guy, co-founders of TIGI - is confident that the tie-up with Unilever will help ensure the continued growth and success of the business. Anthony has been at the forefront of global hairdressing for the past 30 years. He is acclaimed in the industry as an image-maker, as renowned for his photography as for his hairstyles. A charismatic personality who has made frequent TV appearances, Anthony’s creative thinking has made him a leading figure in hairdressing across the globe.
He will retain his role as TIGI’s Global Creative Director and will continue to play a very active part in maintaining, developing and shaping the brand. Unilever has been granted rights to use Anthony’s name to endorse the sale of TIGI products. Anthony has also been engaged by Unilever to act as an advisor on their hair and beauty portfolio.
The transaction is scheduled for completion at the end of March 2009, at which point TIGI will operate as a stand-alone Global Business Unit within Unilever with its global headquarters remaining in
TIGI’s major brands include Bed Head, Catwalk and S-Factor. TIGI has operations in the
The acquisition will enable Unilever, one of the world’s largest consumer goods companies, to expand its portfolio in high growth areas such as personal care. Vindi Banga, Unliever President, Foods and Home and Personal Production said, “This is an exciting acquisition for Unilever…TIGI’s strength in styling, and its fashion and beauty expertise will also help us raise the bar on innovation for our existing hair brands.”
Rex Newman, lead partner on the transaction and managing partner at Wallace, commented, “Anthony Mascolo is an inspirational character and it was a privilege to guide him through this important deal, providing commercial advice based on an intimate knowledge of Anthony’s personal and business goals. It’s very satisfying to help a client achieve this level of success in the international market. We have been advising TIGI International on a range of legal matters for over a decade, including commercial matters, distribution and agency, employment, property and litigation.”
Anthony Mascolo commented, "Wallace has been indispensible on this deal. They are a sophisticated outfit with technical know-how as well as a fresh approach to providing legal advice; they really look after you and give the impression that you are the only client. I’ve come across lawyers from large multinational firms but I wouldn’t hesitate to recommend Wallace. I hope the relationship continues through our next exciting phase of growth."